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Article: SEN. CONRAD COMMENTS ON FISCAL 2007 OMB MID-SESSION REVIEW

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US Fed News Service, Including US State News
Article date:
July 11, 2006
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The office of Sen. Kent Conrad, D-N.D., issued the following statement:

Statement by Sen. Kent Conrad on FY 2007 OMB Mid-Session Review:

Anyone celebrating today's deficit announcement is missing the bigger picture. The long-term deficit outlook is bleak, the nation's debt continues to pile up at an unsustainable rate, and the Bush administration has done nothing but make it all much worse.

Despite claims that the deficit is coming down, it is still projected to explode over the long-term as the rising cost of the President's tax cuts collide with the coming retirement of the baby boom generation. Is that the good news being celebrated by some today?

Meanwhile, the debt continues to soar. ...

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